Asset Management Corner

In this episode of Asset Management Corner, Chris and Andrew discuss speeches from the heads of Examinations and Enforcement, an SEC “risk alert” on annual reviews, and the highly anticipated proposed rulemaking on pay to play. They are then joined by Joann Harris, a partner and CCO at TPG, and former SEC great, to discuss her transition to becoming a CCO, how to build and maintain an effective compliance function, and what everyone is looking forward to this fall season, including more college football talk. 

In a first for the podcast, Andrew and Chris are joined by the SEC’s Director of the Division of Enforcement, David Woodcock. David talks about his return to the SEC, his first months in the position, the creation of a new Unit focusing on financial reporting and accounting, the observer effect on the market, the interplay of Exams and Enforcement, the role played by private funds, and his LSU football fandom. Andrew and Chris also discuss some recent rulemaking news and enforcement actions and, as summer draws to a close, reflect on summer highlights and fall expectations.

In this episode of Asset Management Corner, Chris and Andrew discuss the SEC's rulemaking agenda, the return of Os Nawaz to the SEC as the new principal Deputy Enforcement Director, and a recent enforcement action involving an ETF. They also take stock of their World Cup predictions. Then they are joined by Danek Freeman, a partner in Weil's Banking and Finance practice where he talks about the fast-moving world of private fund finance, including the increasing use of NAV credit facilities.   

In this episode of Asset Management Corner, Andrew and Chris discuss two recent Supreme Court cases, Exam’s risk alert involving economic conflicts of interest, the new Enforcement Director’s first speech, and the first charges by this Commission of the whistleblower protection rule (Rule 21F-17).  They are then joined by their first government guest:  Andrew Thomas, Co-Chief of the Securities and Commodities Fraud Task Force at the United States Attorney's Office for the SDNY.  Andrew T. talks about enforcement in the prediction market space, the SDNY’s interest in private fund valuations, the DOJ’s cooperation and self-disclosure program, and the state of parallel investigations with the SEC. Then they talk Knicks basketball.

In this episode of Asset Management Corner, Andrew and Chris share additional observations on the proposed Form PF amendments, discuss the recent arrest of a U.S. soldier accused of “insider trading” tied to the removal of a foreign head of state, and explore how advisers should address prediction markets in their compliance programs. They are then joined by Maryellen Maurer, Managing Director at Standish Management and former member of the SEC Division of Examinations’ Private Funds Unit. Maryellen reflects on her experiences as an in-house compliance officer, compliance consultant, and regulator, and discusses current trends she is seeing in SEC examinations of advisers. They wrap up with summer travel plans, including Maine, lobster rolls, Mount Rushmore, the Outer Banks, and avoiding hantavirus.

In this episode of Asset Management Corner, Andrew and Chris discuss the announcement of David Woodcock as the new SEC Enforcement Director, the proposed amendments to Form PF, and some notable enforcement actions. Then they are joined by Adam Huckle, a partner in Maples Group’s Regulatory & Financial Services and Dispute Resolution & Insolvency teams in the Cayman Islands. The guys discuss the critical role the Cayman Islands plays in the world of private funds, the fascinating history of the tax status of the Cayman Islands, and how Adam ended up with Chris and Andrew’s dream job. They finish by making their picks for the “Soccer” World Cup (which Adam couldn’t bring himself to say).

In this episode of Asset Management Corner, Andrew and Chris discuss another important Enforcement action involving a private fund adviser, the new SEC Enforcement Manual, and Enforcement Director Ryan’s first speech. Then they speak with Pete Driscoll, partner at PWC and former head of the Division of Examinations, to reflect on the evolution of Exams, discuss the SEC’s policymaking agenda, and analyze the importance of valuation in the retailization of private markets. The guys finish with a discussion of shows they’re watching, including a medical drama, a biographical romance anthology, and one of the few investment shows out there.   

In this Super Bowl edition of Asset Management Corner, Andrew and Chris discuss SEC Director Brian Daly's speech on AI, U.S. Attorney Jay Clayton's interview at the recent Securities Docket conference, where he made news on prediction markets and corporate cooperation, and Andrew’s and Chris’s picks for the big game. They then catch up with friends and colleagues Robert Baker from ACA Group (and a former SEC leader) to discuss SEC exam prep, and Chris Scully from Weil to discuss filing deadlines.  

In this season two premiere episode of the Asset Management Corner podcast, Andrew Dean and Christopher Mulligan reconnect with former SEC colleague Michael Spratt, who is now a leader at the Investment Company Institute, to discuss the retailization of private funds, among other topics. Andrew and Chris also break down some Marketing Rule updates, including the infamous footnote 590, and this Commission’s little noticed take on so-called shadow trading. 

In this episode of Asset Management Corner, Andrew Dean and Chris Mulligan sit down with Scott Walker, the Chief Compliance Officer at Andreessen Horowitz (aka a16z) to discuss all things VC and crypto. Scott’s varied background, including as the SEC’s expert on digital assets and blockchain technology, gives him a unique perspective on the intersection of compliance and crypto. Andrew and Chris also discuss some recent changes to the SEC’s Wells process.